ME8U Stock Analysis: Mapletree Industrial Trust | SG
REIT - Industrial | SG, Singapore | Market Cap: 5.282m SGD | 12M Return: -8.6% | SG2C32962814 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.4M
EPS Trend: -64.7%
Qual. Beats: 0
Rev. Trend: 25.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mapletree Industrial Trust (MIT) is a Singapore-listed real estate investment trust (REIT) that invests in income-producing real estate used for industrial purposes. Its portfolio is diversified across three markets: Singapore, North America (including data centres held through a joint venture with sponsor Mapletree Investments), and Japan. The trusts properties span four main segments: Data Centres, Hi-Tech Buildings, Business Space, and General Industrial Buildings.
As an industrial REIT, MIT benefits from structural tailwinds such as the growth of cloud computing and digital infrastructure, which has driven sustained demand for data centre assets. Singapore REITs are generally required to distribute at least 90% of their taxable income to unitholders to enjoy tax transparency, making them income-oriented vehicles commonly held for yield.
MIT is managed by Mapletree Industrial Trust Management Ltd. and externally sponsored by Mapletree Investments Pte Ltd, one of Asias largest real estate developers. The trust was incorporated in Singapore in 2008.
- Data centre portfolio expansion lifts distributable income
- Singapore industrial rents rebase on tight occupancy
- Higher interest rates raise refinancing costs and cap rates
| Net Income: 221.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.00 > 1.0 |
| NWC/Revenue: -75.36% < 20% (prev 13.73%; Δ -89.08% < -1%) |
| CFO/TA 0.05 > 3% & CFO 433.6m > Net Income 221.7m |
| Net Debt (5.01m) to EBITDA (343.6m): 0.01 < 3 |
| Current Ratio: 0.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.86b) vs 12m ago 0.14% < -2% |
| Gross Margin: 64.78% > 18% (prev 64.54%; Δ 0.24% > 0.5%) |
| Asset Turnover: 7.67% > 50% (prev 7.85%; Δ -0.19% > 0%) |
| Interest Coverage Ratio: 4.21 > 6 (EBIT TTM 343.5m / Interest Expense TTM 81.6m) |
| A: -0.06 (Total Current Assets 115.7m - Total Current Liabilities 595.5m) / Total Assets 7.94b |
| B: 0.07 (Retained Earnings 538.4m / Total Assets 7.94b) |
| C: 0.04 (EBIT TTM 343.5m / Avg Total Assets 8.30b) |
| D: 1.66 (Book Value of Equity 4.95b / Total Liabilities 2.99b) |
| Altman-Z'' = 1.84 = BBB |
| DSRI: 0.77 (Receivables 15.9m/22.1m, Revenue 636.6m/681.1m) |
| GMI: 1.00 (GM 64.54% / 64.78%) |
| AQI: 1.07 (AQ_t 0.99 / AQ_t-1 0.92) |
| SGI: 0.93 (Revenue 636.6m / 681.1m) |
| TATA: -0.03 (NI 221.7m - CFO 433.6m) / TA 7.94b) |
| Beneish M = -3.23 (Cap -4..+1) = AA |
As of October 14, 2026, the stock is trading at SGD 1.83 with a total of 7,392,500 shares traded. Over the past week, the price has changed by -0.54%, over one month by -4.19%, over three months by -3.65% and over the past year by -8.56%.
Current recommended Stop Loss: 1.70 (which is 7.1% or 4.3 ATR below the current price).
Mapletree Industrial Trust has no consensus analysts rating.
P/E Trailing = 26.4286
P/E Forward = 15.9236
P/S = 8.0304
P/B = 1.1018
P/EG = 1.1329
Revenue TTM = 636.6m SGD
EBIT TTM = 343.5m SGD
EBITDA TTM = 343.6m SGD
Long Term Debt = 2.08b SGD (from longTermDebt, last quarter)
Short Term Debt = 470.3m SGD (from shortLongTermDebt, last quarter)
Debt = 100.7m SGD (Leases only: 100.7m)
Net Debt = 5.01m SGD (calculated: Debt 100.7m - CCE 95.7m)
Enterprise Value = 5.29b SGD (5.28b + Debt 100.7m - CCE 95.7m)
Interest Coverage Ratio = 4.21 (Ebit TTM 343.5m / Interest Expense TTM 81.6m)
EV/FCF = 12.20x (Enterprise Value 5.29b / FCF TTM 433.5m)
FCF Yield = 8.20% (FCF TTM 433.5m / Enterprise Value 5.29b)
FCF Margin = 68.09% (FCF TTM 433.5m / Revenue TTM 636.6m)
Net Margin = 34.83% (Net Income TTM 221.7m / Revenue TTM 636.6m)
Gross Margin = 64.78% ((Revenue TTM 636.6m - Cost of Revenue TTM 224.2m) / Revenue TTM)
Gross Margin QoQ = 65.30% (prev 62.96%)
Tobins Q-Ratio = 0.67 (Enterprise Value 5.29b / Total Assets 7.94b)
Interest Expense / Debt = 81.05% (Interest Expense 81.6m / Debt 100.7m)
Taxrate = 15.26% (40.0m / 261.9m)
NOPAT = 291.1m (EBIT 343.5m * (1 - 15.26%))
Current Ratio = 0.19 (Total Current Assets 115.7m / Total Current Liabilities 595.5m)
Debt / Equity = 0.02 (Debt 100.7m / totalStockholderEquity, last quarter 4.95b)
Debt / EBITDA = 0.01 (Net Debt 5.01m / EBITDA 343.6m)
Debt / FCF = 0.01 (Net Debt 5.01m / FCF TTM 433.5m)
Total Stockholder Equity = 5.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.67% (Net Income 221.7m / Total Assets 7.94b)
RoE = 4.34% (Net Income TTM 221.7m / Total Stockholder Equity 5.11b)
RoCE = 4.78% (EBIT 343.5m / Capital Employed (Equity 5.11b + L.T.Debt 2.08b))
RoIC = 3.98% (NOPAT 291.1m / Invested Capital 7.31b)
WACC = 6.18% (E(5.28b)/V(5.38b) * Re(6.30%) + (debt cost/tax rate unavailable))
Discount Rate = 6.30% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.23 | Cagr: 2.60%
[DCF] Terminal Value 74.22% ; FCFF base≈449.3m ; Y1≈419.4m ; Y5≈383.9m
[DCF] Fair Price = 2.12 (EV 6.07b - Net Debt 5.01m = Equity 6.06b / Shares 2.86b; r=8.35% [WACC [floored]]; 5y FCF grow -8.39% → 2.50% )
EPS Correlation: -64.68 | EPS CAGR: -5.65% | SUE: 0.0 | # QB: 0
Revenue Correlation: 25.36 | Revenue CAGR: 0.74% | SUE: -0.32 | # QB: 0
EPS current Quarter (2026-12-31): EPS=0.03 | Chg30d=N/A | Revisions=+0% | Analysts=3
EPS current Year (2027-03-31): EPS=0.12 | Chg30d=-0.34% | Revisions=-25% | GrowthEPS=+6.0% | GrowthRev=-4.3%
EPS next Year (2028-03-31): EPS=0.12 | Chg30d=-0.75% | Revisions=-25% | GrowthEPS=+0.6% | GrowthRev=+2.0%
[Analyst] Revisions Ratio: -40% (up=0, down=2)